Baofa Group (03326) received a controlling shareholder premium of about 61.29% and proposed privatization to resume trading on June 10

Zhitong Finance App News, Baofa Group (03326) and the offender Immaculate Diamonds Limited jointly announced that on May 30, 2025, the offender requested the board of directors to submit proposals to plan shareholders to privatize the company through planning arrangements in accordance with section 86 of the Company Law. The plan will involve cancellation and removal of the planned shares, payment of the cancellation price of each cancelled planned share in cash to the planned shareholders (as compensation), and cancellation of the listing status of the shares on the Stock Exchange. HK$0.25 in cash for each cancelled planned share is approximately 61.29% premium over the closing price of HK$0.155 per share as reported on the stock's closing price on the Stock Exchange on the last trading day.

Based on the cancellation price of HK$0.25 per plan share and 519,585,000 plan shares issued on the date of announcement, and assuming no other change in the company's shares prior to the plan recording date, the total value of the planned shares is approximately HK$130 million, or the amount of cash required for the plan.

Furthermore, the company has applied to the Stock Exchange to resume trading of shares on the Stock Exchange starting at 9:00 a.m. on June 10, 2025 (Tuesday).

According to reports, the offender is a limited company incorporated in the British Virgin Islands and has been one of the company's controlling shareholders since its listing. The total issued share capital of the offeror is ultimately beneficially owned by Mr. Jian Jianguang.